Delta Air Lines has initiated an employee stock ownership plan (Esop) that could ultimately distribute 24.7 million shares of the company's common stock. To prevent dilution an equivalent number of shares will be repurchased and the first stock option is planned for October. Separately, Delta's pilots new contract is expected to save $100 million next year, $200 million in 1998 and $230 million in both 1999 and 2000.
Source: Airline Business